Mixed-Use Property with High
For Sale
$615,000
Pending
1639 N Salina St, Syracuse, NY 13202
Corner lot with commercial space and four apartments, fully rented.
Property Size6,024 SF
Days on Market360
Property Features for 1639 N Salina St
General Information
Standard status
Pending
Size
6,024 SF
Taxes and HOA fees
Annual Taxes
$6,823
Listing Agency:
Coldwell Banker Prime Prop, Inc
Listed By:
Susan Li · License #30LI0956504
(315) 446-2910
Source:
Exprealty
Added: Oct 28, 2025
Changed: Oct 11
Last Checked: Oct 20 at 9:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Prime Prop, Inc
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Investment Insights
Based on property information with market context.
This corner lot property features a commercial store on the first level, currently operating as an art studio with a modern design. The upper level contains four 2-bedroom apartments. The property is fully occupied and well-maintained, with updated kitchens and bathrooms. It generates over $90,000 in rental income, representing over 12% cash on cash return. The property size is 6,024 square feet. This is a turnkey operation and a solid investment property.
Key Highlights
- Over $90K of rental income.
- Over 12% cash‑on‑cash return.
- 100% occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,035
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,700
$1.1M
Cap Rate 7%
$771,929
$771.9K
Cap Rate 9%
$600,389
$600.4K
Market Conditions
NOI Build-Up for 6,024 SF
Gross rent
$94.0K $15.60/SF
− Vacancy
−$7.5K −$1.25/SF
EGI
$86.5K $14.35/SF
− OpEx
−$32.4K −$5.38/SF
NOI
$54.0K $8.97/SF
Area
Syracuse, NY
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,700
Cap Rate 7%
$771,929
Cap Rate 9%
$600,389
Alternative Uses
Best Use
Apartment 5plus
$812.5K
$711.0K – $947.9K
NOI $56,876 @ 7.0% cap · market cap 9.25%
Second Best
Mixed Use
$771.9K
$675.4K – $900.6K
NOI $54,035 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$1.05M
$916.0K – $1.22M
NOI $73,283 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,228
Businesses Nearby
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Business Placement
Demographics for 13202, NY
6,967
Population
3,525
Households
2
Avg Household Size
30
Median Age
36%
College-Educated
78%
High-School Grad
1.0 sq mi
ZIP Area
6,967
Density / Sq Mi
$27,365
Median Household Income
$35,990
Median Earnings
$807
Median Rent
$79,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner lot with commercial space and four apartments, fully rented.
Where is this mixed-use property located?
The property is located at 1639 N Salina St Syracuse, NY.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Over $90K of rental income.; Over 12% cash‑on‑cash return.; 100% occupancy.
